24. DEFERRED TAX (CONTD.) The unabsorbed capital allowance of the Group are available indefinitely for offsetting against future taxable profits of the respective entities within the Group, subject to no substantial changes in shareholdings of those entities under the Income Tax Act, 1967 and guidelines issued by the tax authority. Effective from Year of Assessment 2019, unused tax losses are allowed to be carried forward for a maximum period of ten years. The details of the expiry of the Group’s and the Company’s unutilised tax losses are as follows: Group Company 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Unutilised tax losses – Expires in 2028 43,410 52,337 – – – Expires in 2029 36,596 36,788 23,715 23,715 – Expires in 2030 27,695 27,900 – – – Expires in 2031 43,692 43,920 – – – Expires in 2032 23,427 2,535 – – 174,820 163,480 23,715 23,715 The foreign unutilised losses and unabsorbed capital allowances applicable to foreign incorporated subsidiary companies, if any, are pre-determined by and subject to the tax legislations of the respective countries. 25. INVENTORIES Group 2022 RM’000 2021 RM’000 Consumables 17,178 15,224 Properties held for sale – 51,548 17,178 66,772 The amounts of inventories recognised as expenses in cost of sales of the Group is disclosed in Note 4. Inventories amounted to RM12.8 million which was acquired during the financial year (2021: RM nil) was written off in the same year. These inventories were related to the COVID-19 business under the healthcare support segment. As at 31 December 2022, properties held for sale with carrying amount of RM49.5 million has been reclassified to asset held for sale as disclosed in Note 28. 26. SHORT-TERM INVESTMENTS Group 2022 RM’000 2021 RM’000 Financial asset at fair value through profit or loss: – unquoted unit trusts (money market funds) 97,178 28,310 Unquoted unit trusts (money market funds) represent investment funds invested with licensed fund managers in the funds approved by the Securities Commission Malaysia. The portfolio of investments authorised by the Board of Directors comprises only deposits in both Islamic and conventional instruments with financial institutions. 27. CASH, BANK BALANCES AND DEPOSITS Group Company 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Cash in hand and at banks 478,242 398,649 53,289 50,457 Deposits with licensed banks 131,244 201,742 9,000 – 609,486 600,391 62,289 50,457 (a) Included in cash at bank of the Group are amounts of RM0.12 million (2021: RM26.4 million) held pursuant to Section 7A of the Housing Development (Control and Licensing) Act 1966 and Section 8A of the Housing Development Account (Control and Licensing) Sabah Act, 1978 and are restricted for use in other operations. (b) Deposits with licensed banks of the Group amounting to RM3.2 million (2021: RM3.9 million) are on lien for bank guarantee facilities granted to certain subsidiaries. As at 31 December 2022, the subsidiaries have utilised guarantee facilities amounting to RM1.5 million (2021: RM0.9 million). (c) Deposits with licensed banks amounting to RM2.0 million (2021: RM2.4 million) are pledged to secure certain facilities granted to the Group. (d) Deposits with licensed banks of the Group amounting to RM22.9 million (2021: RM20.6 million) are pledged as securities for bank borrowing granted to a foreign subsidiary. (e) Cash and fixed deposits of RM21.9 million (2021: RM18.1 million) from a foreign subsidiary are pledged as collateral for performance of service under integrated facility management contract, and are therefore restricted from use in other operation. (f) Cash and bank balances amounting to RM0.7 million (2021: RM0.7 million) are held in trust to maintain and deposit all security deposits received by the Company as licensed Estate Agent held on behalf of its client. Other information on financial risks of cash, bank balances and deposits are disclosed in Note 41. p.338 p.339 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 FINANCIAL STATEMENTS Notes to the financial statements For the year ended 31 December 2022 Notes to the financial statements For the year ended 31 December 2022
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